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Stock impact report

Trump tariffs live updates: US customs agency works on tariff refund process after pressure from judge [Yahoo! Finance Canada]

On Holding AG (ONON) 
refunds to US businesses in another setback for the Trump administration after the Supreme Court struck down the president's wide-reaching "reciprocal" tariffs. More than 2,000 companies, including well-known names like Costco ( COST ) and FedEx ( FDX ), have filed lawsuits seeking refunds for the illegal tariffs they paid. On Friday, the US Customs agency said it is preparing a process for importers to electronically file and receive tariff refunds, and that the system will be ready in the next 45 days. While the refund process gets ironed out, President Trump has moved forward with imposing new 10% tariffs that could rise to 15% as soon as "sometime this week," according to Treasury Secretary Scott Bessent. The president's fresh 10% tariffs under Section 122 of the Trade Act of 1974 allow the president to impose tariffs of up to 15% for up to 150 days to address trade deficits. However, a group of states is seeking to challenge these duties in court , arguing that Trump lacks Show less Read more
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